RE: If we make it tough enough on Mr. Bigbucks he will simply take his bucks to another country...
Ahhh... but here’s the rub, it isn’t as easy to open an account in another country any longer. Offshore banking is not what it once was since the advent of the Obama administration.
There used to be a time when Mr BugBucks could open a secret Swiss account in Switzerland. No longer.
This administration has hired divisions of IRS agents to hunt the money of the Mr BigBucks of America worldwide and by threatening the two bug Swiss banks who do business here -— UBS and Credit Swisse, they were able to cause Switzerland to CAPITULATE.
Last Year, the Swiss Parliament agreed to let banks disclose the names of American account holders in Switzerland.
Switzerland is no longer a safe money deposit haven.
If the USA can by virtue of her size and influence, bully a strong neutral country to change its banking policy, how much more the other offshore safe havens like the Cayman Islands or Bahamas?
Mr. BugBucks will from now on have a hard time taking his bucks away from the United States. He is being tracked by the IRS.
I actually meant Mr. Bigbucks would just take his money and move to another country to live...I know he would have to declare and likely pay something- but then he is out of our system, forever. I forget when it was but at one time this country was taxing the rich a lot and I read a biography of a movie star that said the biggest stars just up and moved to Europe and hung out, might have been in the 20s not sure of the time frame.